Citigroup Inc. Sells 14,963 Shares of GRAIL, Inc. $GRAL

Citigroup Inc. reduced its position in GRAIL, Inc. (NASDAQ:GRAL) by 23.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,691 shares of the company’s stock after selling 14,963 shares during the period. Citigroup Inc. owned 0.14% of GRAIL worth $2,938,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GRAL. Geode Capital Management LLC grew its position in GRAIL by 60.4% in the second quarter. Geode Capital Management LLC now owns 757,770 shares of the company’s stock worth $38,969,000 after acquiring an additional 285,331 shares in the last quarter. Allianz Asset Management GmbH raised its position in GRAIL by 145.9% during the third quarter. Allianz Asset Management GmbH now owns 294,835 shares of the company’s stock valued at $17,434,000 after purchasing an additional 174,959 shares during the period. Invesco Ltd. raised its position in GRAIL by 259.1% during the second quarter. Invesco Ltd. now owns 218,671 shares of the company’s stock valued at $11,244,000 after purchasing an additional 157,780 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of GRAIL by 159.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 206,120 shares of the company’s stock valued at $12,188,000 after purchasing an additional 126,576 shares during the last quarter. Finally, Carnegie Investment Counsel lifted its stake in shares of GRAIL by 48.1% in the 3rd quarter. Carnegie Investment Counsel now owns 245,315 shares of the company’s stock valued at $14,505,000 after purchasing an additional 79,630 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GRAL. Guggenheim boosted their target price on GRAIL from $100.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 26th. TD Cowen assumed coverage on GRAIL in a research report on Thursday, February 19th. They issued a “hold” rating and a $114.00 price target for the company. Robert W. Baird set a $82.00 price objective on shares of GRAIL in a research note on Friday, February 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a research report on Thursday, January 22nd. Finally, Morgan Stanley reduced their target price on shares of GRAIL from $110.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 24th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $90.17.

Insider Buying and Selling

In other GRAIL news, CEO Robert P. Ragusa sold 37,504 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $50.17, for a total transaction of $1,881,575.68. Following the completion of the sale, the chief executive officer owned 650,525 shares in the company, valued at $32,636,839.25. This represents a 5.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Joshua J. Ofman sold 17,002 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $50.16, for a total value of $852,820.32. Following the sale, the president directly owned 436,508 shares in the company, valued at $21,895,241.28. This trade represents a 3.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 64,079 shares of company stock valued at $3,214,673 over the last 90 days. Corporate insiders own 1.85% of the company’s stock.

GRAIL Trading Down 3.0%

NASDAQ:GRAL opened at $50.23 on Friday. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -4.49 and a beta of 5.18. GRAIL, Inc. has a twelve month low of $20.44 and a twelve month high of $118.84. The stock has a fifty day simple moving average of $88.90 and a 200-day simple moving average of $77.24.

GRAIL (NASDAQ:GRAL) last issued its earnings results on Thursday, February 19th. The company reported ($2.44) earnings per share for the quarter, topping the consensus estimate of ($3.33) by $0.89. GRAIL had a negative return on equity of 17.58% and a negative net margin of 277.46%.The business had revenue of $43.60 million during the quarter, compared to analysts’ expectations of $43.33 million. As a group, equities research analysts predict that GRAIL, Inc. will post -15.15 EPS for the current fiscal year.

GRAIL Company Profile

GRAIL, Inc (NASDAQ: GRAL) is a biotechnology company dedicated to the early detection of cancer through a multi-cancer blood test. Leveraging advances in next-generation sequencing, cell-free DNA (cfDNA) analysis and machine learning, GRAIL has developed the Galleri™ test, which aims to identify more than 50 types of cancer at their earliest stages. The company’s platform analyzes methylation patterns in circulating tumor DNA to pinpoint tumor presence and tissue of origin, enabling physicians to pursue timely diagnostic follow-up.

Founded in 2016 as a spin-out from Illumina, GRAIL established its headquarters in Menlo Park, California, with additional research and operations centers in the United Kingdom.